Nevada Revised Statutes 463.605 – Information required if corporation or other business organization is or becomes subsidiary
If a corporation, partnership, limited partnership, limited-liability company or other business organization applying for or holding a license is or becomes a subsidiary, each holding company and intermediary company shall furnish the Board the following information:
Terms Used In Nevada Revised Statutes 463.605
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
1. The organization, financial structure and nature of the business it operates.
2. The terms, position, rights and privileges of the different classes of securities outstanding.
3. The terms on which its securities are to be, and during the preceding 3 years have been, offered to the public or otherwise.
4. The terms and conditions of all outstanding loans, mortgages, trust deeds, pledges or any other indebtedness or security device pertaining to the gaming licensee.
5. The extent of the security holding or other interest in the holding company or intermediary company of all officers, employees, directors, underwriters, partners, principals, managers, members, trustees or any direct or beneficial owner, and any remuneration as compensation for their services, in the form of salary, wages, fees, or by contract, pertaining to the gaming licensee.
6. Remuneration to others than directors and officers exceeding $40,000 per annum.
7. Bonus and profit-sharing arrangements.
8. Management and service contracts.
9. Options existing or to be created in respect of their securities or other interests.
10. Balance sheets, certified by independent certified public accountants, for not more than the 3 preceding fiscal years, or, if the holding company or intermediary company has not been in existence more than 3 years, balance sheets from the time of its establishment.
11. Profit and loss statements, certified by independent certified public accountants, for not more than the 3 preceding fiscal years, or, if the holding company or intermediary company has not been in existence more than 3 years, profit and loss statements from the time of its establishment.
12. Any further financial statements which the Board may deem necessary or appropriate for the protection of the State of Nevada, licensed gambling, or both.
13. An annual profit and loss statement and an annual balance sheet, and a copy of its annual federal income tax return, within 30 days after such return is filed with the Federal Government.